Dons EzeBREAKING: NIGERIANS TO PAY MORE FOR ELECTRICITY, TARIFF GOES UP BY OVER 300%
BREAKING: NIGERIANS TO PAY MORE FOR ELECTRICITY, TARIFF GOES UP BY OVER 300% The Nigerian Electricity Regulatory Commission, NERC, has given the go-ahead to raise the electricity rates for customers in the Band A category. At a press briefing in Abuja on Wednesday, the Vice Chairman of NERC, Musliu Oseni, announced that there will be a rise in electricity tariffs. This adjustment will result in customers paying N225 per kilowatt-hour, up from the current rate of N66. “We currently have 800 feeders that are categorised as Band A, but it will now be reduced to under 500. This means that 17 percent now qualify as Band-A feeders. These feeders only service 15 percent of total electricity customers connected to the feeders. “The commission has issued an order which is titled April supplementary order and the commission allows a 235 kilowatt per hour.” Meanwhile, here are new electricity charges for DisCos as subsidy goes The new cost per unit of electricity (kWh) is expected to vary depending on the distribution company (DisCo) and the customer’s consumption level on the back of the increasing inflation rate and the impact of the foreign exchange rate and high cost of gas, which may push up the amount paid by customers without government’s subsidy. BusinessDay findings showed customers under Yola, DisCo will pay between N234 and N179 per kWh, while those under Jos DisCo will pay between N166 and N101 per kWh. Ikeja Electric customers will pay between N143 and N69 per kWh, while Abuja DisCo customers will be charged between N153 and N74 kWh. Eko DisCo’s rates range from N125 to N79 per kWh. Benin DisCo’s charges fall between N137 and N100 per kWh. Enugu DisCo customers will pay between N154 and N95 per kWh, and Port-Harcourt DisCo’s rates range from N142 to N100 per kWh. Kano DisCo charges vary between N159 and N90 per kWh depending on the customer’s band. In Kaduna DisCo, the rates range from N163 to N88 per kWh, while Ibadan DisCo’s charges are between N140 and N97 per kWh. Experts has however stated that the continued payment of electricity subsidy was not sustainable as it constitutes a huge financial burden on the federal government.According to the Nigeria Electricity Regulatory Commission (NERC), the federal government spent the sum of N225 billion on electricity subsidy in 2015; N308 billion in 2016; N351 billion in 2017; N440 billion in 2018; N528 billion in 2019; N501 billion in 2020; N251 billion in 2021; N144 billion in 2022; N645 billion in 2023.
DANGOTE REFINERY BEGINS DIESEL SALES TO MARKETERS, NNPC REDUCES PETROL PRICES
DANGOTE REFINERY BEGINS DIESEL SALES TO MARKETERS; NNPC REDUCES PETROL PRICES The Dangote Petroleum Refinery is set to commence sales of diesel to marketers as from today, Tuesday, April 2, 2024. The refinery has set a minimum sale volume of one million litres of Automotive Gas Oil (AGO) diesel per marketer. According to the national president of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Alhaji Abubakar Maigandi, the move is expected to have a considerable impact on the availability and price of diesel in the country. At the same time, the Nigerian National Petroleum Corporation (NNPC) has announced a reduction in petrol prices across the country. The new prices are aimed at easing the burden on consumers and making fuel more affordable for the general public. This decision by the NNPC aligns with the government’s commitment to improving the welfare of its citizens. Dangote Refinery’s decision to sell diesel to marketers is a major milestone for the company, which is Africa’s largest oil refinery. The refinery is expected to significantly boost the supply of petroleum products in Nigeria and reduce the country’s reliance on imports. The refinery’s operations are also expected to have a positive impact on the economy by creating jobs and stimulating growth in related industries. Economists and industry experts have welcomed the news, with some predicting that the price of diesel per litre will fall below N1,000 by May. This is due to the commencement of diesel production at the Dangote Refinery, which will help to stabilize prices and improve the availability of the product. The lower diesel prices are expected to have a positive impact on various sectors of the economy, including the transportation, manufacturing, and agricultural industries. The NNPC’s decision to reduce petrol prices nationwide is also a welcome development for consumers. The move is expected to ease the burden on households and businesses that rely on petrol for their daily activities. The reduction in petrol prices is part of the government’s efforts to ensure that fuel remains affordable for all Nigerians. The commencement of diesel sales by the Dangote Refinery and the reduction in petrol prices by the NNPC are significant developments for Nigeria’s energy sector.These moves are expected to have a positive impact on the economy by improving the availability of petroleum products and making them more affordable for consumers.
LAMENTATION: MY OWN COUNTRY DENIED US – ALLEN ONYEMA, AIR PEACE BOSS
LAMENTATION: MY OWN COUNTRY DENIED US, ALLEN ONYEMA, AIR PEACE BOSS The Chief Executive Officer, CEO of Air Peace Airlines, Allen Onyema, has narrated how his airlines suffered what he called both internal and external conspiracies. Onyema disclosed this on Monday while fielding questions on Arise Television’s Morning Show programme. Onyema said ‘his own country’ denied Air Peace and threw back its application for a Technical Country Operators (TCO) permit, which could have allowed the airlines to start going into any European country. He lamented that it took the nation’s leading airlines seven years to get the designation to go into London. “You suffer what I call both internal and external conspiracies. It took us seven years. We got the designation, I think about six and a half years ago to go into London. Since then, it has been a Cat-and-Mouse game. “We actually procured our three 777s because of this route, not for any other route,… However, we were not allowed to go. “Whether you like it or not, there is what is called international aero politics which is very dirty. We applied for the TCO. TCO means Technical Country Operators permit, you must get that one before you start going into any European country, UK inclusive. And the TCO organization from Europe wrote our Nigerian Civil Aviation Authority- Do you know Air Peace? Do you know about their designation? And we were denied. My own country denied us, so they threw it back. “We went back to the NCAA, they said, oh, we didn’t tell them. Who designated us, the Federal Ministry of Aviation, whose duty it was and still is to do that. We said okay, we’re ready. They refused, they said until they allow us to apply. So, we got a designation from the Federal government, and the NCAA, under the same Federal Government, was telling us that we should not make any application towards going into the UK.”Onyema suggested that Nigerian airlines need all the necessary support they could get from the Federal Government.
HOW BINANCE MANAGER ESCAPED FROM NIGERIA – NSA
HOW BINANCE MANAGER ESCAPED FROM NIGERIA – NSA The office of the National Security Advisers, ONSA, has confirmed the escape of the Binance regional manager for Africa, Nadeem Anjarwalla. Appnjarwalla, Binance’s Africa regional manager, escaped from custody on March 22, 2024, from an Abuja guest house, where he and his colleague, Tigran Gambaryan, were detained for alleged tax evasion. A statement issued by ONSA head of strategic communication, Zakari Mijinyawa, said Anjarwalla fled Nigeria using a smuggled passport”. Mijinyawa said the personnel responsible for the custody of the suspect has been arrested and investigation has begun.“Preliminary investigation shows that Mr Anjarwalla fled Nigeria using a smuggled passport”. “The personnel responsible for the custody of the suspect have been arrested, and a thorough investigation is ongoing to unravel the circumstances that led to his escape from lawful detention,” the statement reads.Meanwhile, Binance in reaction to the development said the safety of its Manager remains top priority.The firm stressed that it is working with the Nigerian authorities to resolve the issue.